Binbank buys 99.84% stake in Uralprivatbank

11 March 2015 (09:17)

March 11, 2015. Binbank bought 99.84% of Yekaterinburg-based Uralprivatbank’s shares; the issuer will be able to manage the shareholding starting from March 6, the two banks report.

Binbank Board of Directors approved of a merger with Uralprivatbank, so the latter’s branches will now operate under the name of Binbank.

The fact that the Moscow bank was going to acquire Uralprivatbank transpired in mid-January. The cost of the transaction has not been announced. As a result, Binbank will now run over ten branches in Sverdlovsk Region.

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